Why is Mekas NFTs the latest crypto craze?
Latest craze captivating crypto Twitter: A collection of 8,888 one-of-a-kind “Mekas” was based on Japanese anime classics known as Mobile Suit Gundam. The entire collection sold out on October 7, almost a week before the real artwork for the 3D mech-suit avatars was revealed. Since then, sales on OpenSea have totaled more than 20,000 ETH (about $70 million).
- The MekaVerse was conceived on a five-month tour to Asia by European designers Mattey and Matt B, whose clients include Apple, Nike, and MTV. Each Meka is a one-of-a-kind 3D picture created by an algorithm that combines “hundreds” of carefully chosen graphic elements.
- The initiative generated interest by asking potential collectors to enter a raffle using their Twitter or Discord accounts, with winners receiving one or two Mekas for 0.2 ETH apiece (about $720) plus transaction (or “gas”) fees. The raffle was designed to enable fans to compete against whale collectors, who are known for their substantial wealth and transactions. Because of their propensity to pay the highest Ethereum network fees, whales often walk away with the best of a drop if there isn’t such a measure in place.
- Over 172,000 wallets registered for a chance to buy one of the 8,888 Mekas. As soon as the minting process started, the value of the winners’ Mekas began to soar – the floor price for Mekas on OpenSea was 6.35 ETH (about $22,000) on Tuesday.
- What caused the Meka to drop like it’s hot? Probably a combination of things, including the intriguing robot-suit concept and the developing hype about past collectible NFT efforts. Larva Labs, the founders of CryptoPunks, just signed with Hollywood mega-agency UTA, while the makers of Bored Ape Yacht Club recently signed with Guy Oseary, Madonna’s, and U2’s manager.
- Physical Meka toys, “a more ambitious second Meka drop,” and a prospective venture into short films and streetwear have all been teased in the MekaVerse’s roadmap. The creative team came up with a few ideas: “Every day, we’re pursuing new concepts and ideas… What if your Meka had the potential to evolve into a Super-Meka? What if your Mekas were able to work together? What if your Mekas joined you in combat?”
NFT sales reached $10 billion in the third quarter of 2021, more than eight times the amount of the previous quarter. With its inexpensive initial purchase, raffle mechanism, and possibilities for real merch, the MekaVerse appeared to be a hit with new collectors. Will the developers’ promise of a “more ambitious” second drop lead to a release that is even bigger and more inclusive?